Between about 60% to 80% of the human body comprises water and lipids, which are important for proper cellular function. Alterations in the water and/or lipid content in tissue is associated with many adverse health conditions, such as, for example, cardiovascular disease, inflammation, diabetes, and many cancers. For example, lipid heterogeneity in a tumor is a relevant biomarker for cancer diagnosis. Clinical assessment of water and lipid levels in tissue often utilizes magnetic resonance imaging (“MRI”), which can generate tomographic images of water and lipids with T1 and T2 weighted scans. However, the use of MRIs to assess water and lipid levels in most clinical applications is often limited by the high costs of MRIs. Moreover, MRI images can only provide a semi-quantitative assessment of water and lipid levels. It would be advantageous to provide systems and methods capable of providing quantitative measurements of water and lipids in in-in vivo tissue to support the study and clinical assessment of a wide variety of health conditions. The present disclosure is directed to solving these and other problems.